Cohabitation history, marriage, and wealth accumulation

The Rising Importance of Stock-Linked Assets in the Black-White Wealth Gap

Studies have examined the racial disparities in household characteristics, homeownership, and familial transfer as primary drivers of the Black-White wealth gap in the United States. This study assesses the importance of stock-linked assets in generating wealth inequality. As financial assets become a growing component of household portfolios, the Black-White wealth gap is increasingly associated with the racial disparity in stock-linked assets. Using data from the Survey of Consumer Finances and the Panel Study of Income Dynamics, this study shows that the contribution of stock-linked assets to the Black-White wealth gap has expanded in both absolute and relative terms, surpassing those of homeownership and business equity. Furthermore, a substantial disparity in financial wealth exists even for otherwise similar Black and White households. Although the disparity is larger among those with more economic resources, a gap remains among those with less. Lastly, our analysis shows that the combination of lower ownership levels and lower returns on financial wealth among Black households could account for a quarter of the Black-White wealth accumulation gap, net of differences in current net worth and household characteristics. Our findings suggest that considering financial assets is critical for understanding contemporary racial wealth inequality.

Pooling of Wealth in Marriage: The Role of Premarital Cohabitation

Previous studies documented the existence of a 'cohabitation-marriage gap' in resource pooling among opposite-sex partners, with cohabiters being more likely to separate income and wealth than married individuals. Surprisingly, despite many non-marital cohabitations transform into marriages, we know little about income and wealth pooling of 'spousal cohabiters', i.e. spouses who transition to marriage after experiencing a period of non-marital cohabitation. The comparison between 'spousal cohabiters' and directly married spouses is particularly interesting because it offers a litmus test of theories of marriage in relation to how and why economic resources are differently distributed within married vs. cohabiting couples. This paper compares directly married couples and 'spousal cohabiters' in Italy, focusing on one aspect of resource pooling: the marital property regime, i.e. the choice made at the time of marriage between joint or separate ownership of wealth accumulated during marriage. Competing hypotheses are developed on the basis of the arguments that marriage yields legal protection, that selection mechanisms drive both the choice of community vs. separation of property and direct marriage vs. premarital cohabitation, and that, by inertia, 'spousal cohabiters' continue to separate resources upon transition to marriage. Results based on the 2016 Italian 'Family and social subjects' survey show that 'spousal cohabiters' are significantly more likely to choose separation of property compared to directly married spouses. Such differences, however, are drastically reduced once relevant confounders are controlled for, hence suggesting that existing differences between directly married and previously cohabiting couples and, more generally, differences between married and cohabiting couples are driven, above all, by selection mechanisms.

SUPPLEMENTARY INFORMATION

The online version contains supplementary material available at 10.1007/s10680-022-09627-2.

Cohabitation and Marriage Among Same-Sex Couples in the 2019 ACS and CPS: A Research Note

Since the 2015 U.S. Supreme Court ruling that marriages of same-sex couples are legal in all states in the union, federal surveys have adapted to the shifting legal climate and included new measures that more directly identify same-sex and different-sex cohabiting and married couples. In this research note comparing the largest and most recent federal surveys-the 2019 American Community Survey and Current Population Survey-we find consistent levels of cohabitation and marriage across surveys. While the vast majority (90%) of different-sex couples were married, we report a more even split in cohabitation and marriage among same-sex couples. Our evaluation of sociodemographic characteristics of married and cohabiting couples indicates that differences were less prominent among same-sex couples than among different-sex couples, suggesting weaker sociodemographic selection into marriage among the former. However, factors affecting same-sex and different-sex couples' decisions to live together and marry may differ because of legal and social climates that still present unique obstacles for same-sex couples. Researchers need to acknowledge these differences in assessments of the implications of marriage for health and well-being.

State containment measures, living arrangements, and mental health of U.S. older adults during the COVID-19 pandemic

OBJECTIVES

Early in the coronavirus pandemic, U.S. states implemented several different types of containment measures to slow the disease's spread. Early evidence indicates containment measures were associated with changes in individuals' mental health. This study explores the associations between U.S. state containment measures and older adults' mental health and importantly, whether the associations vary by living arrangement and gender.

METHODS

The study analyzed national sample of adults aged 50 or older from 12 waves (April-July 2020) of the U.S. Household Pulse Survey (N = 394,934). State fixed-effects models linked four state containment measures (stay-at-home order, restaurant closure, bar closure, and movie theater closure) to levels of depression and anxiety across different types of living arrangements, net of controls. Men and women were analyzed separately.

RESULTS

Stay-at-home order and restaurant and bar closure, but not movie theater closure, were associated with higher levels of depression and anxiety in older adults. Living arrangements moderated the associations for women but not men. For women, compared to living alone, living with a spouse or intergenerational family was associated with higher levels of anxiety and depression during stay-at-home order and restaurant closure.

CONCLUSION

The associations between containment measures and mental health vary by type of living arrangement and were gendered, likely because household situations create different demands and supports that men and woman experience differently. Although containment measures are necessary to protect public health, paying attention to these underlying dynamics can inform policymakers' efforts to implement policies that balance harms and benefits for older adults.

Wealth in Couples: Introduction to the Special Issue

The assumption that economic resources are equally shared within households has been found to be untenable for income but is still often upheld for wealth. In this introduction to the special issue “Wealth in Couples”, we argue that within-household inequality in wealth is a pertinent and under-researched area that is ripe for development. To this end, we outline the relevance of wealth for demographic research, making the distinction between individual and household wealth. Drawing on a life-course perspective, we discuss individual wealth accumulation within couples and its links to family-demographic processes, the institutional context, and norms on pooling and sharing. We conclude with a brief summary of the main findings from the special issue and highlight implications for demographic research and for future research in this field.

The gender wealth gap in the United States: Trends and explanations

It is difficult to study the gender wealth gap because wealth is usually measured at the household level, and men and women often live in the same household. I use person-level measures of wealth, attributing to each person the assets and debts owned in their name, to study the gender wealth gap in the United States among working age people. Using the Survey of Income and Program Participation, I find that the existence of the gender wealth gap is primarily explained by the gender income gap. However, although the gender income gap has narrowed, the gender wealth gap has widened from the mid-1990s to the mid-2010s. This widening occurred across the wealth distribution and among almost every subgroup by marital status, education, race, and age. This widening of the gender wealth gap cannot be explained by changes in socioeconomic characteristics but is consistent with the trend of increasing wealth inequality.

Intra-Couple Wealth Inequality: What’s Socio-Demographics Got to Do with it?

Existing literature shows that on average and across countries, men have higher levels of wealth than women. However, very little is known about the gender-specific wealth gap within couples. This paper studies this phenomenon for the first time in Austria. The particular focus of the paper is on the relationship between the socio-demographic characteristics of the couple and the couple’s gender wealth gap. We focus on how age, education, marital status, fertility, migratory background, and the gender of the respondent are related to the wealth gap within a couple. In both bivariate and multivariate analyses, we find evidence in support of the hypothesis that bargaining power plays an important role in the intra-couple gender wealth gap in Austria. Immigrant women living in a couple with native men, and, among natives, couples in which the man is much older on average, have larger gender wealth gaps. Furthermore, couples in which the woman is the “financially most knowledgeable person” in the household have consistently lower gender wealth gaps.

Are Married Women Really Wealthier Than Unmarried Women? Evidence From Japan

Using microdata from the Japanese Panel Survey of Consumers, this article examines the relationship between marriage and wealth among women. By exploiting unique data on personal wealth, it also assesses whether the wealth effect of marriage differs depending on whether wealth is measured as household or personal wealth, an issue that very few studies have examined. When wealth is measured as equivalized household net worth, on the assumption that married couples share household resources equally, marriage is found to contribute to women's wealth holdings but only to their nonfinancial net worth; however, the results show signs that marriage also contributes to women's total net worth as marriage durations increase. By contrast, when wealth is measured as personal net worth based on the actual ownership of assets, marriage is found to be negatively and significantly associated with women's wealth holdings. These findings underscore the fact that Japanese women are potentially in a financially vulnerable position even after marriage, which is at least partly driven by married women's career disruptions arising from their family responsibilities.

Barriers to Economic Security: Disability, Employment, and Asset Disparities in Canada

Although ample research shows that people with disabilities face significant labor market barriers, questions remain about whether and how disadvantages in employment and earnings contribute to economic insecurity. We use 1999 to 2012 Canadian Survey of Financial Security data to study disparities in nonhousing assets, which include household savings, stocks, and pensions, across households with and without disabilities. We find that households where the respondent or their spouse reported a disability held 25 percent less in nonhousing assets after accounting for key employment, education, and demographic factors. Demonstrating the more complicated relationship between disability, employment, and assets, these direct effects were further strengthened by disability's indirect effects on assets through its relationship with employment income.

Same-Sex Parents and Children's School Progress: An Association That Disappeared Over Time

Research is divided as to whether children living in same-sex parent families achieve different outcomes compared with their peers. In this article, we improve on earlier estimates of such differences and subsequently study whether and why the association between parental union sex composition and children's school progress changed over time. Data from the American Community Survey waves 2008-2015 (N = 1,952,490 including 7,792 children living with a same-sex couple) indicate that children living with same-sex couples were historically more likely to be behind in school but that this association disappeared over time. Changes in socioeconomic characteristics of same-sex couples played a minor role. In 2008, it was only in areas with unfavorable laws and attitudes toward same-sex couples that children living with same-sex couples were more likely to be behind in school. This was especially the case for adopted children. In more recent periods, no effect of parental union sex composition on school progress is observed within any area or among any group studied. Based on where and when these changes took place, it is suggested that changing attitudes toward same-sex couples might have played an important role in equalizing school progress across groups.

Legalizing Same-Sex Marriage Matters for the Subjective Well-being of Individuals in Same-Sex Unions

We investigate whether the subjective well-being of individuals in same-sex unions improved following the legalization of same-sex marriage in England and Wales in March 2014. We employ repeated cross-sectional data from the 2011–2016 Annual Population Surveys on 476,411 persons, including 4,112 individuals in coresidential same-sex relationships. The analysis reveals increases in subjective well-being for individuals in same-sex relationships following legalization. Additional analysis documents higher subjective well-being for individuals in married same-sex couples compared with individuals who are in a civil partnership or an informal cohabiting same-sex union. However, the subjective well-being of individuals from same-sex couples increased after legalization among all subgroups considered, including those who cohabited informally. This result hints at a general reduction in structural stigma as an important mechanism behind the improved well-being of individuals in same-sex unions.

Men's Income Trajectories and Physical and Mental Health at Midlife

Using time-varying, prospectively measured income in a nationally representative sample of Baby-Boomer men (the National Longitudinal Survey of Youth - 1979 [NLSY79]), we identify eight group-based trajectories of income between ages 25-49 and use multinomial treatment models to describe the associations between group-based income trajectories and mental and physical health at midlife. We find remarkable rigidity in income trajectories: less than 25% of our sample experiences significant upward or downward mobility between the ages of 25 to 49 and most who move remain or move into poverty. Men's physical and mental health at age fifty is strongly associated with their income trajectories, and some upwardly mobile men achieve the same physical and mental health as the highest earning men after adjusting for selection. The worse physical and mental health of men on other income trajectories is largely attributable to their early life disadvantages, health behaviors, and cumulative work experiences.

Marriage and physical capability at mid to later life in England and the USA

BACKGROUND

Married people have lower rates of mortality and report better physical and mental health at older ages, compared to their unmarried counterparts. However, there is limited evidence on the association between marriage and physical capability, the ability to carry out the tasks of daily living, which is predictive of future mortality and social care use. We investigate the association between marital status and physical capability at mid to later life in England and the United States.

METHODS

We examine the association between marriage and physical capability at mid to later life in England and the USA using two performance-based measures of physical capability: grip strength and walking speed. Multiple linear regression was carried out on Wave 4 (2008) of the English Longitudinal Study of Ageing (ELSA) and Waves 8 and 9 (2006 and 2008) of the US Health and Retirement Study (HRS).

RESULTS

In age adjusted models married men and women had better physical capability than their unmarried counterparts. Much of the marriage advantage was explained by the greater wealth of married people. However, remarried men were found to have stronger grip strength and widowed and never married men had a slower walking speed than men in their first marriage, which was not explained by wealth, demographic and socioeconomic characteristics, health behaviours, chronic disease or depressive symptoms. There were no differences in the association between England and the USA.

CONCLUSIONS

Marriage may be an important factor in maintaining physical capability in both England and the USA, particularly because of the greater wealth which married people have accrued by the time they reach older ages. The grip strength advantage for remarried men may be due to unobserved selective factors into remarriage.

Assets among low-income families in the Great Recession

This paper examines the association between the Great Recession and real assets among families with young children. Real assets such as homes and cars are key indicators of economic well-being that may be especially valuable to low-income families. Using longitudinal data from the Fragile Families and Child Wellbeing Study (N = 4,898), we investigate the association between the city unemployment rate and home and car ownership and how the relationship varies by family structure (married, cohabiting, and single parents) and by race/ethnicity (White, Black, and Hispanic mothers). Using mother fixed-effects models, we find that a one percentage point increase in the unemployment rate is associated with a -0.5 percentage point decline in the probability of home ownership and a -0.7 percentage point decline in the probability of car ownership. We also find that the recession was associated with lower levels of home ownership for cohabiting families and for Hispanic families, as well as lower car ownership among single mothers and among Black mothers, whereas no change was observed among married families or White households. Considering that homes and cars are the most important assets among middle and low-income households in the U.S., these results suggest that the rise in the unemployment rate during the Great Recession may have increased household asset inequality across family structures and race/ethnicities, limiting economic mobility, and exacerbating the cycle of poverty.

The Marriage Wealth Premium Revisited: Gender Disparities and Within-Individual Changes in Personal Wealth in Germany

This study examines the association between marriage and economic wealth of women and men. Going beyond previous research that focused on household wealth, I examine personal wealth, which allows identifying gender disparities in the association between marriage and wealth. Using unique data from the German Socio-Economic Panel Study (2002, 2007, and 2012), I apply random-effects and fixed-effects regression models to test my expectations. I find that both women and men experience substantial marriage wealth premiums not only in household wealth but also in personal wealth. However, I do not find consistent evidence for gender disparities in these general marriage premiums. Additional analyses indicate, however, that women's marriage premiums are substantially lower than men's premiums in older cohorts and when only nonhousing wealth is considered. Overall, this study provides new evidence that women and men gain unequally in their wealth attainment through marriage.

Can't afford a baby? Debt and young Americans

This article explores the role of personal debt in the transition to parenthood. We analyze data from the National Longitudinal Study of Youth-1997 cohort and find that for the generation coming of age in the 2000s, student loans delay fertility for women, particularly at very high levels of debt. Home mortgages and credit card debt, in contrast, appear to be precursors to parenthood. These results indicate that different forms of debt have different implications for early adulthood transitions: whereas consumer loans or home mortgages immediately increase access to consumption goods, there is often a significant delay between the accrual and realization of benefits for student loans. The double-edged nature of debt as both barrier and facilitator to life transitions highlights the importance of looking at debt both as a monetary issue and also as a carrier of social meanings.

Nonmarital Fertility, Union History, and Women's Wealth

We use more than 20 years of data from the National Longitudinal Survey of Youth 1979 to examine wealth trajectories among mothers following a nonmarital first birth. We compare wealth according to union type and union stability, and we distinguish partners by biological parentage of the firstborn child. Net of controls for education, race/ethnicity, and family background, single mothers who enter into stable marriages with either a biological father or stepfather experience significant wealth advantages over time (more than $2,500 per year) relative to those who marry and divorce, cohabit, or remain unpartnered. Sensitivity analyses adjusting for unequal selection into marriage support these findings and demonstrate that race (but not ethnicity) and age at first birth structure mothers' access to later marriage. We conclude that not all single mothers have equal access to marriage; however, marriage, union stability, and paternity have distinct roles for wealth accumulation following a nonmarital birth.

Marriage and parenthood in relation to obesogenic neighborhood trajectories: The CARDIA study

Marriage and parenthood are associated with weight gain and residential mobility. Little is known about how obesity-relevant environmental contexts differ according to family structure. We estimated trajectories of neighborhood poverty, population density, and density of fast food restaurants, supermarkets, and commercial and public physical activity facilities for adults from a biracial cohort (CARDIA, n=4,174, aged 25-50) over 13 years (1992-93 through 2005-06) using latent growth curve analysis. We estimated associations of marriage, parenthood, and race with the observed neighborhood trajectories. Married participants tended to live in neighborhoods with lower poverty, population density, and availability of all types of food and physical activity amenities. Parenthood was similarly but less consistently related to neighborhood characteristics. Marriage and parenthood were more strongly related to neighborhood trajectories in whites (versus blacks), who, in prior studies, exhibit weaker associations between neighborhood characteristics and health. Greater understanding of how interactive family and neighborhood environments contribute to healthy living is needed.

Trends in Cohabitation Outcomes: Compositional Changes and Engagement Among Never-Married Young Adults

Cohabitation is now the modal first union for young adults, and most marriages are preceded by cohabitation even as fewer cohabitations transition to marriage. These contrasting trends may be due to compositional shifts among cohabiting unions, which are increasingly heterogeneous in terms of cohabitation order, engagement, and the presence of children, as well as across socioeconomic and demographic characteristics. The author constructs 5-year cohabitation cohorts for 18- to 34-year-olds from the 2002 and 2006-2010 cycles of the National Survey of Family Growth (n = 17,890 premarital cohabitations) to examine the outcomes of cohabitations over time. Compared to earlier cohabitations, those formed after 1995 were more likely to dissolve, and those formed after 2000 were less likely to transition to marriage even after accounting for the compositional shifts among individuals in cohabiting unions. Higher instability and decreased chances of marriage occurred among both engaged and non-engaged individuals, suggesting society-wide changes in cohabitation over time.

Racial Disparities in Mortality Among Middle-Aged and Older Men: Does Marriage Matter?

Based on longitudinal data from the Health and Retirement Study, this study assesses the importance of marital status in explaining racial disparities in all-cause mortality during an 18-year follow-up among White and African American men aged 51 to 61 years in 1992. Being married was associated with significant advantages in household income, health behaviors, and self-rated health. These advantages associated with marriage at baseline also got translated into better survival chance for married men during the 1992-2010 follow-up. Both marital selection and marital protection were relevant in explaining the mortality advantages associated with marriage. After adjusting for the effect of selected variables on premarital socioeconomic status and health, about 28% of the mortality gap between White and African American men in the Health and Retirement Study can be explained by the relatively low rates of marriage among African American men. Addressing the historically low rates of marriage among African Americans and their contributing factors becomes important for reducing racial disparities in men's mortality.

Factors Affecting Wealth Accumulation in Hispanic Households

This research addresses differences between Hispanic ( N = 2,333) and White ( N = 15,521) households in the ownership and allocation of two representative measures of wealth accumulation, stock and homeownership. Using data from the 2008 panel of the Survey of Income and Program Participation, this research estimates a two-stage interaction model to examine differences in both asset ownership and asset allocation decisions. This article established two important findings: (1) results indicate that the negative effects of Hispanic ethnic identity on asset ownership were the result of disadvantaged positions of Hispanic households in the distribution of financial, immigration-related, and demographic characteristics, and (2) once ownership was controlled for, there is no difference in the holdings of stock allocation or home equity between Hispanic and White households.

The effect of marriage on utilization of colorectal endoscopy exam in the United States

PURPOSE

This study examines the association between marriage and colorectal endoscopy exam, and whether this association varies by gender and financial benefits of marriage including improved access to health insurance and pooled family income.

METHODS

Representative survey data of the non-institutionalized United States population were used from the 2000, 2005, and 2008 National Health Interview Survey. Analyses targeted persons 50-85 years of age without a personal history of cancer and with complete information on all study variables (n=21,760). Multivariate logistic regression was used to model marital status differences in the probability of undergoing a colorectal endoscopy exam with interaction effects used to model variation over time by gender, health insurance, and poverty level.

RESULTS

Married persons were more likely than unmarried persons to report ever having undergone a colorectal endoscopy exam (odds ratio [OR], 1.21; 95% confidence interval [CI], 1.12-1.29), and the difference between married and unmarried persons in the probability of undergoing a colorectal endoscopy exam remained stable over time. Married persons were more likely than unmarried persons to report having undergone a colorectal endoscopy exam within the past 10 years (OR, 1.49; 95% CI, 1.15-1.95). For each survey year, married men were significantly more likely than women and unmarried men to report having undergone a colorectal endoscopy exam. For example, in 2008, 56% of married men reported having undergone a colorectal endoscopy exam, compared to 49% of unmarried men, 52% of married women, and 50% of unmarried women. Among persons with health insurance, married persons were significantly more likely than unmarried persons to have undergone a colorectal endoscopy exam. Among persons who were poor, there was no difference by marital status in the likelihood of having undergone a colorectal endoscopy exam. However, among persons who were not poor, married persons were more likely than unmarried persons to have undergone a colorectal endoscopy exam.

CONCLUSION

Given that colorectal endoscopy exams are a potentially life-saving procedure, persistently higher uptake of colorectal endoscopy for married persons over time may be an important health promoting benefit of marriage. Therefore, clinicians and policy makers should focus on improving the use of cancer prevention services among unmarried persons.